Good & Bad For The Week

Good:
  1. Stocks defended support and rallied in July
  2. Durable goods orders rose 3.4%, beating estimates for a 3.1% gain
  3. The PMI Services Flash index rose to 55.2, beating estimates for 54.8
  4. The Richmond Fed Manufacturing index came in at 13, beating estimates for 7.5
  5. The weekly initial claims rose to +267k, beating estimates for a gain of 272k
  6. The Chicago PMI rose to 54.7, beating estimates for 50
Bad:
  1. U.S. GDP grew by +2.3% in Q2 2015, missing estimates for +2.6% (even though rates are at zero)
  2. Dallas Fed Manufacturing Data fell to negative -4.6%, even with rates at zero
  3. Case-Shiller index fell -0.2%, missing estimates for +0.3%
  4. Consumer Confidence slid to 90.9, missing the Street’s estimate for 99.6
  5. Pending Homes sales fell sharply to -1.8%, missing estimates for a gain of 1%
  6. Consumer sentiment softened to 93.1, missing estimates for 94.1

It’s Amazon’s World. The USPS Just Delivers in It

http://www.bloomberg.com/news/articles/2015-07-30/it-s-amazon-s-world-the-usps-just-delivers-in-it

Wynn CEO: China Needs to Stay Out of Stock Markets

http://www.foxbusiness.com/business-leaders/2015/07/30/wynn-ceo-china-needs-to-stop-interfering-with-stock-markets/?intcmp=bigtopmarketfeatures

Required Reading Of The Day

Stocks Quiet, as 2Q Growth Signals Higher Rates- Fox Business

U.S. Economy Grew 2.3% in 2nd Quarter- WSJ

Some Small Drillers Are Faring Well – WSJ

Crude Oil Prices Advance on Inventory Data – Fox Business

Google Appeals French Right to Be Forgotten Order – WSJ

Comcast’s NBCUniversal in Talks to Invest in BuzzFeed – WSJ